September 2014 -

Saving to Spend

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What comes to your mind on the First of every month?






Well what comes to my mind is the salary being apportioned into small portions at my home when my father brought his salary…the small apportioned portion were for milk, provisions, rent, etc and the apportioned amount was strictly used only for the purpose for which it was set aside. Any thing extra/ unplanned during the month had to be taken from the money what was set aside for savings.  There were no credit cards existing, yet people seemed to manage with their salaries and lived within their means. Have seen my father set aside money even for festivals which were a year away. If I look back, our parents were far better financial planners, they created more wealth, they invested better and let more contented life.


So what is the change now, the change is the advent of credit cards and consumerism both going hand in hand.  The consumerism though good in the retail sense and for the economy , has led to more wants more than the means.  There is the ever spiralling credit card statements, minimum due cycle, which when a middle class consumer gets caught is quite difficult to wean out. Living on the future income is incredibly foolish though many of us seem to find it absolutely normal to do so!!!


What did our forefathers learn that we have unlearned……


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